WORK BONUS

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A new Work Bonus

A new Work Bonus  has come into operation since 1 July 2011.

 It means that pensioners can now earn $250 each fortnight without this affecting their pension. If you do not earn anything or you earn less than $250 the unused amount accrues as the Work Bonus balance.
In other words you can earn up to $6500  in one year without it affecting your pension.

As an example Mary earns $200 each fortnight, she keeps her pension intact plus $50 is accrued  in her Work Bonus balance. At some stage she earns say, $600 in a oncer job she sitll has money in her work balance to offset this extra earning.

You still need to inform Centrelink when you earn any income during the financial year.
The Work Bonus is an incentive and cannot be cashed out.
For extra information call the Centrelink Seniors Line on 132300.